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Running Out of Other People’s Money

June 4, 2015 in Economics

While federal budget deficits have improved over the past few years, the reprieve is purely temporary.  In the new issue of Cato Policy Report, Cato scholar Michael D. Tanner breaks down the tremendous amount of U.S. federal debt, and shines a light on the true culprit: entitlement spending. “Clearly, we are on a course that cannot continue,” says Tanner. “Will we find our way to a soft landing that minimizes disruption, or are we on the road for the turmoil and economic stagnation that we see in countries like Greece?”

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